Urgent.ly Inc. (NASDAQ:ULY) Sees Large Drop in Short Interest

Urgent.ly Inc. (NASDAQ:ULY) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 380,400 shares, a decline of 18.1% from the January 31st total of 464,700 shares. Based on an average trading volume of 182,100 shares, the days-to-cover ratio is currently 2.1 days. Currently, 4.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC decreased their price objective on Urgent.ly from $2.00 to $1.50 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Urgent.ly

A hedge fund recently bought a new stake in Urgent.ly stock. Toronto Dominion Bank purchased a new position in shares of Urgent.ly Inc. (NASDAQ:ULY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned approximately 1.23% of Urgent.ly at the end of the most recent quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.

Urgent.ly Trading Down 2.9 %

Shares of Urgent.ly stock opened at $0.56 on Friday. The stock has a fifty day simple moving average of $0.51 and a 200 day simple moving average of $0.63. Urgent.ly has a 12-month low of $0.41 and a 12-month high of $3.45. The company has a market capitalization of $7.59 million, a P/E ratio of 0.06 and a beta of 0.81.

About Urgent.ly

Urgent.ly Inc offers mobility assistance software platform for roadside assistance in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery.